The global orthopedic implants market size was estimated to be US$ 47 billion in 2019 and is expected to grow at a CAGR of 5% through 2030.
With advancement in medical technology, the demand for sophisticated, efficient, and sustainable surgical implants has increased significantly around the globe. The orthopedic implants are used to support or replace the degenerated bones or support the bones for restoring the skeletal functions, and stabilizing the body posture. The orthopedic implants market is highly competitive with leading players focused on development of ionized biomaterial orthopedic implants for extended life span with minimal physiological risk.
The expansion of geriatric population is significantly contributing towards the growth of the global orthopedic implants market. The risk of degenerative bone disorders such as osteoarthritis and osteoporosis increase significantly with ageing and demands support or replacement of critical skeletal components. Additionally, increasing incidences of sports injuries, prevalence of musculoskeletal disorders, prevalence of spine disorders, and technological advancement in orthopedic implants are dynamically governing the demand for orthopedic implants. The global orthopedic implants market is anticipated to grow significantly during the forecast period.
North America contributed the largest share to the global orthopedic implants market owing to increasing incidences of spinal disorder and rise in spine surgeries, increasing investment in research & development of advanced implantable, rising number of sports injuries, and expanding geriatric population. The manufacturers of orthopedic implants are continuously engaged in development of advanced implants to improve operational efficacy, which is anticipated to fuel the growth of North America orthopedic implant market.
Asia Pacific contributed a prominent share to the global orthopedic implants market in 2019 and is expected to be the fastest growing segment during the forecast period. Expanding geriatric population, increasing investment if advanced medical technologies, and evolving healthcare infrastructure across major countries such as China, India, Japan, South Korea and Malaysia are expected to be the key factors contributing towards the growth of Asia Pacific orthopedic implants market during the forecast period.
The report titled “Orthopedic Implants Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global orthopedic implants market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Medtronic Plc reported revenues of USD 30,557 million in 2019 and the product segment analysis of the company indicates that Cardiac & Vascular Group business segment of the company dominated revenue in 2019.
The global orthopedic implants market is segmented based on product type, material, applications, and geography. Based on product type, the global orthopedic implants market is segmented into reconstructive joint replacements, spinal implants, dental implants, trauma, Orthobiologics, and others. The reconstructive joint replacements are sub-segmented into knee replacement implants, hip replacement implants, and extremities. The spinal implants are sub-segmented into spinal fusion devices, vertebral compression fracture (VCF) devices, and motion preservation devices/non-fusion devices. The Orthobiologics are further sub-segmented into demineralized bone matrix (DBM), allograft, bone morphogenetic protein (BMP), viscosupplementation products, synthetic bone substitutes, and others. Based on biomaterial, the global orthopedic implants market is segmented into metallic biomaterials, polymeric biomaterials, ceramic biomaterials, and others. The metallic biomaterials are sub-segmented into stainless steel, titanium alloy, cobalt alloy, and others. Based on application, the global orthopedic implants market is segmented into knee, hip, wrist & shoulder, dental, spine, ankle, and others. Based on geography, the global orthopedic implants market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on orthopedic implants. Further, market share of prominent companies in the global orthopedic implants market would also be estimated. For instance, Medtronic Plc operates through four business segments namely Cardiac & Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetic Group. The orthopedic implants are delivered under Restorative Therapies Group business segment of the company with revenue contribution of US$ 8,183 million in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the orthopedic implants companies. The global orthopedic implants market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the orthopedic implants business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global orthopedic implants market.
Major players active in the global orthopedic implants market include Arthrex, Inc., CONMED Corporation., DJO Finance LLC, Globus Medical Inc., Johnson & Johnson (DePuy Synthes), Medtronic Plc, Smith and Nephew Plc., Stryker Corporation, Wright Medical Group N.V., and Zimmer Biomet Holdings, Inc.
Market Segmentation
By Product Type
By Biomaterial
By Applications
By Geography
North America is the largest share in global Orthopedic Implants Market.
The sample report for the Orthopedic Implants Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
The Orthopedic Implants market is studied from 2023 to 2032.
Based on type, the Orthopedic Implants market is segmented into reconstructive joint replacements, spinal implants, dental implants, trauma, Orthobiologics, and others.
Companies such as Arthrex, Inc., CONMED Corporation., DJO Finance LLC, Globus Medical Inc., Johnson & Johnson (DePuy Synthes), Medtronic Plc, Smith and Nephew Plc., Stryker Corporation, Wright Medical Group N.V., and Zimmer Biomet Holdings fall under the winner’s category.
Copyright © 2024 Same Page Management Consulting Pvt. Ltd. (insightSLICE) | All Rights Reserved